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IAMHIM IAMHIM is offline
 
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Lightbulb Tata Group may buy Air India: Report

Tata Group may buy Air India: Report

The Tata Group in partnership with Singapore Airlines may be looking at buying India's national carrier Air India from the government, business news channel ET Now reported on Wednesday citing sources. If the deal comes through, it would be a homecoming of sorts for Air India, which was originally owned by the Tata Group before being nationalised in 1953.

Tata Group chairman N Chandrasekaran has held informal talks with the government, expressing preliminary interest in buying a controlling stake in Air India with 51 per cent equity, the report stated.

The government has been talking about its interest in privatising the beleaguered airline that has been in losses for a decade. Recently, Finance Minister Arun Jaitley had said the aviation ministry has to explore all possibilities "as to how the privatisation of Air India can be done". Air India has a whopping debt of over Rs 52,000 crore.

Air India has already received bailout packages worth about Rs 24,000 crore out of a total Rs 30,000 crore approved

Back in 2013, the then chairman of Tata Group Ratan Tata had said the group would "be very happy to look" at Air India "as and when it (privatization) happens."

The Tata Group is already present in the Indian civil aviation space with two of its joint ventures including low-cost carrier AirAsia India in partnership with Malaysia's Air Asia, and full service airline Vistara in partnership with Singapore Airlines.

Air India's original avatar was as Tata Airline which was launched in 1932 by Tata Group patriarch JRD Tata. Post independence, it was incorporated as Air India International in 1948 as a joint venture between the government and the private sector to start overseas services. Five years after this, the government would nationalise the aviation industry bringing the airline under its control.

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Last edited by IAMHIM : 4 Weeks Ago at 03:58 PM.

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I hope it will revive Air India.
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If the deal comes through, it would be a homecoming of sorts for Air India, which was originally owned by the Tata Group before being nationalised in 1953.
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Air India service is good recently.
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The Lone Crusader of India, who exposed various scams under previous govt has clearly told he won't let this happen
Read the tweets
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Tata bless AI will become a better experience with them again and competition will be on their toes when national carrier will regain its lost sheen & stature.The Maharaja will once again rule the skies

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^^ it didn't have any "sheen and stature" back then. It was the only airline back then... so, you people had no choice but to like them. Remember the doordarshan days?

I am not saying those times were bad, it's just that when you don't have any other choices (or competition), you tend to get satisfied with what's available.

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Tata also bought Corus Steel in UK but paid only 30% and remaining 70% was loaned by banks (public money ur money my money - loan is still pending). So where the money will come from to pay for Air India u can guess now only. Airline business is a loss making business 1. Because of high inflated costs of airplanes looting by Boeing and Airbus or even rental companies (they also have to buy from chor airbus and boieng only). 2. Taxation on oil/mind u not the actual price of oil. 3. Other taxes on airline industry by GOI. 4. Chindi staff who steal stuff and dont work. 5. Chindi passengers who want to fly in air without paying its actual cost.

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